Now is not the time to forget about energy crisis

By
Real Estate Mortgage Broker with Liberty One Lending

we have a bad tendency as americans to worry about things when they are a problem, when we should worry about them before they are a problem.

One area is gas and energy prices.

This was the forefront of the election while gas prices where at record highs , above $4/gallon across the country in mid-july.

Everyone as up in arms. Now , that we are 50% of those prices, concern is on the back burner.

Here are my best ideas for cheaper gas. The extra disposable income can go towards economic consumption which helps the economy, creates, jobs, ideas, innovation, more revenue for the government, more social programs and ultimately more wealth for all.

  1. Gas Tax Cut -  a Gas Tax cut would provide immediate relief. However, people fear a tax cut would just cause more gas consumption.
  2. Income tax cut - I would suggest a tax break on the first $75K income. This group is more affected and has less discretionary income and savings. An income tax cut for certain incomes would open more disposable income. The problem with a tax cut is that while effective, it is not immediate. A tax cut has to pass the House, Senate and then a Veto by the President.
  3. Increase taxes - spending money on programs for finding alternative energy sources. However, I don't know anyone who likes higher taxes.
  4. Open U.S oil reserves - by drilling in places like Alaska -   less dependent on foreign oil - I have read that the US has more than 50 years of untapped Oil reserves.
  5. Raise taxes on SUV's , trucks and high use vehicles - Increase incentives for more fuel efficient vehicles.  These are standard in Europe - why not here?
  6. Regulate Oil speculation- commodities traders have had an impact on prices betting on future growth - again difficult to control global markets.
  7. Increase tax breaks/government benefits to providers of public transportation. Thus, passing on lower costs for commuters.
  8. Carpool, Ride a Vespa, bicycle or walk
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